"This was not the end of the world because the market is still making all-time highs," the investor and best-selling author said in a new interview.

But the current bull market - which is the second longest running - will end badly, according to Rogers, warning that the next financial meltdown is going to be the worst yet.

As for the timeline? The famed investor said the crash is coming sooner than we think.

"I would expect it to start this year or the next...and it's going to be the worst in your lifetime and my lifetime," he told me back in July.

The sole survivors will be investors that know what they are doing. "And the way to protect yourself is to invest in what you know," he said.

Preparing for the Worst

Rogers added that he plans not to be around twenty-somethings when the crash does come. "I have been around a long time and when things go bad, 26-year-olds don't have enough experience."

"When things are going right, we all need a 26-year-old. There's nothing better than a 26-year-old in a great bull market, especially in a bubble, because they're fearless," said Rogers. The shortfall is that for a young investor a bull market will never end.

Rogers said it is a case of been there, done that. "When I was 26, I thought I was the smartest guy in the room -- young guys and women make fortunes in times like this."

"But I know that when things go bad, 26-year-olds just don't have any experience," he added.

Jim Rogers.

So how is Rogers preparing for the crash? The Singapore-based investor said he likes overlooked and hated markets including agriculture, Russian and Chinese stocks.

As for gold, Rogers said the metal isn't hated enough to buy right now and it's going to get "very, very, very overpriced" before the current run is over.

"When people say, 'I never want to invest in gold again,' that is when I want to invest in it ...When everybody is throwing it out the window that is usually a good time to buy anything including gold. So far, there are too many people that love gold."

Rogers noted that he bought gold "a long time ago" and has not made any serious purchases since 2010.

"I'm not buying gold and have not bought gold. I own gold and have owned gold for years, but I'm not buying or selling it at the moment."

"If and when gold goes down a lot, or under $1,000, I hope I'm smart enough to buy more gold because in the end, gold is going to go up a lot because when people lose confidence in governments and paper money, they always put their money in gold and silver."

Talking the crypto currency craze, Rogers said he wishes he had been smart enough to buy bitcoin five years ago or even as recent as five months ago. The digital currency is up some 300% since the start of the year, last trading over $3,900.

"[Bitcoin] sounds like a bubble and looks like a bubble, but don't ask me because I missed the whole thing," Rogers said.

Should Disney execute well on its transition plan over the next few years, an investment in the stock at current levels will likely be properly justified, proving the forward earnings multiple of 20x to be overly conservative.